PLAN 203 - The Markets

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Questions and Answers

What do cities facilitate?

Marine transportation

Agricultural activities

Human interaction of people and firms (correct)

Space exploration

What do cities facilitate?

Marine transportation

Agricultural activities

Human interaction of people and firms (correct)

Space exploration

What does transport facilitate?

Interaction between parties separated in time

Interaction between parties separated by culture

Interaction between parties separated by language

Interaction between parties separated in space (correct)

What does transport facilitate?

Interaction between parties separated in space Signup and view all the answers

What facilitates formal networks of transportation?

Communication Signup and view all the answers

What facilitates formal networks of transportation?

Communication Signup and view all the answers

What plays a large influence in transportation behavior?

Social networks Signup and view all the answers

What plays a large influence in transportation behavior?

Social networks Signup and view all the answers

Who benefits from economies of agglomeration?

Co-locating competitors, customers, and suppliers Signup and view all the answers

Who benefits from economies of agglomeration?

Co-locating competitors, customers, and suppliers Signup and view all the answers

What is Alfred Weber's theory of industrial location largely driven by?

Transport costs Signup and view all the answers

What is Alfred Weber's theory of industrial location largely driven by?

Transport costs Signup and view all the answers

What does the Spatial Mismatch Hypothesis suggest?

Misaligned job types and housing costs lead to shorter distances traveled Signup and view all the answers

What does the Spatial Mismatch Hypothesis suggest?

Misaligned job types and housing costs lead to shorter distances traveled Signup and view all the answers

What is the key link between consumer surplus and accessibility?

Land value Signup and view all the answers

What is the key link between consumer surplus and accessibility?

Land value Signup and view all the answers

What is induced demand a key part of?

The "you can't build your way out of congestion" argument Signup and view all the answers

What is induced demand a key part of?

The "you can't build your way out of congestion" argument Signup and view all the answers

What do cost perceptions ignore?

Externalities Signup and view all the answers

What do cost perceptions ignore?

Externalities Signup and view all the answers

Study Notes

Cities concentrate activity and facilitate human interaction of people and firms.
Transport facilitates interaction between parties separated in space.
Formal networks of transportation are facilitated by communication.
Social networks play a large influence in transportation behavior.
Economies of agglomeration benefit co-locating competitors, customers, and suppliers.
Alfred Weber's theory of industrial location is largely driven by transport costs.
Spatial Mismatch Hypothesis suggests misaligned job types and housing costs lead to greater distances traveled.
Key link between consumer surplus and accessibility is represented in land value.
Induced demand is a key part of the "you can't build your way out of congestion" argument.
Cost perceptions ignore externalities, which have real impacts on social costs.